Looks like the real estate market is the only thing hot about this summer so far!
Massive 31% increases in sales compared to June last year, at the same time carrying a -17 to -30% decrease in active listings.
Seriously low supply, with a huge increase to demand is keeping us in a Seller's Market.
We're seeing similar conditions to when the market was at peak activity, with multiple offers, accepted offers on the first day on the market, above list price offers, etc.
With all this action, if things keep up at this rate, prices will continue to increase until things balance out.
My best advice to buyers is to be as prepared as possible! Make sure you are pre-qualified with your bank or mortgage broker so you can be ready to write an offer the moment your dream home is listed. If you wait even a day or two it might be gone!
Give me a call at 604-798-3960 if you ever have questions about buying or selling a home!
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